RE: Finance Deal to include Historical Costs?30 Jan 2020 14:09
Ta,I posted this previously...........
The Group exploration costs of £4,742,818 are currently being carried forward at cost in the financial statements. The Group
will need to raise funds to reach financial close. Also, financial close involves the raising of finance, both debt and equity for
the opening up of the mine and the construction of the power plant. If the Group is unable to raise this finance, some of
the assets may require impairment.
Company
Exploration costs
£
COST
At 1 January 2018 3,247,597
Additions 65,219
At 31 December 2018 3,312,816
NET BOOK VALUE
At 31 December 2018 3,312,816